Dynegy Files For Ch. 11, Will Merge With Subsidiary

By Jake Simpson

Law360, New York (July 6, 2012, 4:27 PM ET) -- Power and energy services provider Dynegy Inc., parent company of Dynegy Holdings LLC, filed for bankruptcy in New York federal court on Friday as part of a settlement agreement with creditors that also calls for it to merge with its subsidiary.

Houston-based Dynegy, which sells electrical energy throughout the U.S., filed for Chapter 11 protection. The company made the deal as part of its settlement agreement with creditors in the bankruptcy proceedings of Dynegy Holdings, which filed for Chapter 11 protection in November.